Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please show all your calculations 1. A corporation has a times interest earned ratio of 6, and the interest expense is $1,000,000. Also, the cash
Please show all your calculations
1. A corporation has a times interest earned ratio of 6, and the interest expense is $1,000,000. Also, the cash coverage ratio is 7. Assuming that sales revenue is $15,000,000 and other operating expense is $2,000,000, calculate the amount of cost of goods sold.
2. A corporation has a net income of $2,000,000 and a profit margin of 25%. Total asset turnover is 20% and the current ratio is 2, while the amount of current liabilities is $5,000,000. Calculate the amount of fixed assets.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started